2000 Rupee Notes: The pink note of 2000 rupees was brought by the government after demonetisation in 2016 to rapidly increase the cash supply in the market, now the demand to withdraw it has started. Let’s know the complete details about it.
This demand has been made by none other than Sushil Kumar Modi, Rajya Sabha MP of the ruling party at the Center, who has also been the former Finance Minister of Bihar.
Sushil Modi said during Zero Hour in Rajya Sabha that Rs 2000 note has become black money. He said that the government should gradually withdraw the Rs 2000 note by giving time to the public for three years.
Sightings of pink notes are rare
In fact, 6 years ago, on November 8, 2016, the Modi government canceled the old notes of 1,000 and 500 rupees by announcing demonetisation. After demonetisation, RBI brought Rs 2000 note to inject cash in the market. But now the sight of Rs 2000 note is becoming rare.
Rarely Rs 2000 notes come out from ATMs, so there is a rumor about the end of legal tender of Rs 2000 notes in the market. 2000 rupee notes are being hoarded. Despite demonetisation, fake notes of Rs 2000 have come in the market.
No printing of Rs 2,000 note after 2018-19
The question arises that where did the pink notes of Rs 2000 go? So in December 2021 itself, in the winter session, Minister of State for Finance Pankaj Chaudhary had told the Parliament that no fresh orders have been issued for printing Rs 2,000 notes since 2018-19. Explaining the reasons for the decrease in the circulation of Rs 2,000 notes, he was told that the printing of Rs 2,000 notes has stopped since 2018-19, due to which the number of Rs 2,000 notes has come down.
Reduced circulation of Rs 2000 note
RBI had also admitted that there has been a drastic reduction in the circulation of Rs 2,000 notes in the country. In the RBI Annual Report for the year 2021-22, RBI said that the share of Rs 2,000 notes in the total currency circulation in 2020-21 was 17.3 per cent, which has come down to 13.8 per cent now.
In 2019-20, Rs 5,47,952 worth of Rs 2000 notes were in circulation and accounted for 22.6 per cent of the total notes. In 2020-21, it reduced to a value of Rs 4,90,195 crore and in 2021-22, the number of Rs 2,000 notes in circulation of the total currency has further reduced to Rs 4,28,394 crore.
